Steven Lees, Head of Marketing for smartnewhomes.com, comments on the Monetary Policy Committee’s (MPC) decision to hold interest rates at 0.5%:
“The MPC’s decision to hold the historically low base rate was much anticipated and we predict it will remain at this level for at least the next couple of months. We are finally starting to see some signs of improvement in the mortgage market, after the CML’s announcement today that mortgage lending is at a 22 month high. Coupled with the rising house prices that we have seen towards the end of this year, this is more evidence to suggest that the property market is improving.
“In contrast, Alistair Darling's announcement yesterday that the Stamp Duty holiday will end as planned on 1 January is cause for concern as it will discourage first time buyers from entering the market. At the very least we would have liked to have seen the stamp duty holiday extended; ideally we would like to see the tax scrapped completely for those buying their first home.”
See Also: Press Releases (372), Property News (6699), Monetary Policy Committee (11), MPC (8), Stamp Duty (25), Stamp Duty Holiday (6), Interest Rates (13), Interest Rate Statement (8)
Date Published: 10 December 2009
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